Member Info for abzzba

LegalWolf states: "With no sales revenue until April at the earliest " . We were told in yesterdays interview the sales agreement is signed and we are awaiting sign off my Mongolia authority, we then need custom clearance to ship the oil, customs clearance well known and understood process.

MATAD cash.

Money that was in bank June is unknown.plus 9 million fund raise, less:

1 million spent on H1 which was completion only, drilling and well test costs were in 2019.

Less drill Gobi 1.5 million.

Less H2 drill and well test @ 2.5 million.(no completion costs).

Above equals 5 million spent on H1, H2 and Gobi, add on day to day costs so around 3 million plus in the bank just now, plus to be added H1 oil once sold, seems very very likely we will be shipping our oil by January at the latest,

H1 producing around 250 bbl/d, by end of April there will be 6 months production so:

250 bbl/d x 180 days = 45,000 barrels of oil for sale @ circa $70 = $3,150,000.

Then we can get on fitting H1 higher rated wellhead and open the choke up to increase daily production.

We need news on how we fund next years drilling, DQE deal, soft loan etc.

DONT let them trick you !!!!

For whatever reason we are where we are, personally these price fluctuations do not really worry me, there created by outside forces outside our control and given time MATAD and its riches will shine through.

What really does bother me is the likes of Espen gloating and making fun of investors losing money, not everyone has my confidence, some are genuinely worried sick and all this low life can do is laugh and gloat, if ever there was a poor example of the human race it espen & Co.

Fact is the share is being battered / manipulated beyond belief but nowt has changed, the oil is still there, indeed H1 proves beyond doubt its better than expectations, now a case of wait this out, it will turn.

Hamm, be patient, its a long winter ahead but in the end you will be rewarded.

MATAD cash.

Money that was in bank June plus 9 million raise, less 1 million spent on H1, completion only, drilling and well test costs were in 2019, less drill Gobi 1.5 million, less H2 drill and well test @ 2.5 million.

So around 3 million plus in the bank just now, plus to be added H1 oil once sold.

DONT let them trick you !!!!

At lease espen seems happy (sad him) wonder if he will still be pleased at the end of the day .

Takeaway from the interview, MB likes to use the word enthusiastic to describe H1, i like it to. So H1 drilled deeper than other wells in the basin, we have encountered far higher gas and greater pressure than expected, both good things, we need higher rated wellhead to cope with these higher pressure, such wellhead probably not incountry as these pressures not seen in Mongolia before, meantime H1 will continue throughout winter producing at around 250 bbl/d.

Sales agreement not far off for our stored oil.

H2 remedial actions to increase flow, possible re-perforation, i mentioned that a few weeks ago, nothing untoward and part and parcel of oilfield life.

If H1 producing enough gas it can be used to power generators, compressors etc, very common on onshore wells, saves load of cash.

Heron, 2 wells = 2 strikes, read 14th November RNS for facts, H1 proving to be far more productive than we could have dreamed, it has the potential to produce at or around 800 bbl/d, great news, though it will take time to reach those figures as high pressure gas has to be vented and controlled.

H2, well tested at 30 bbl/d, certainly disappointing when compared to H1, H2 has been suspended until next year when remedial works will be conducted to improve on this 30 bbl/d, if we can get H2 flowing at 50 bbl/d its worth $1,277,500 per year at todays oil price, no idea why some on here say it would not be commercial at these production rates.

Always check the facts,especially those presented by our resident adw and espen, they appear somewhat biased against MATAD and their posts are often riddled with inaccuracies.

Adw, no need for me to waste my time trawling through your 400 posts in the last 30 days, everyone knows your a compulsive liar.

You can tell a lot by how people conduct themselves on these boards, it quite obvious to all investors that Adw and Gusto are lacking in moral compass, both are on here day in day out spreading lies and half truths, Adw trawled new depths when he wished cancer on another poster, these are not the actions of "well" people, quite obviously they each suffer from psycological issues, i would hate to think any human would actually do this as a career but heyho, the world is full of low life types.

Next RNS hopefully confirmation of oil sales agreement, maybe that will stop Adw/Gusto lies about that at least, i really dont expect an update on H1 as i feel its still to early, you do not relieve millions of years of gas pressure in a couple of weeks, but who knows, maybe they have tweaked the choke.

Heron, 214 sq/km, 60,000,000 barrels which could be increased with new oilfield drilling and injection techniques.

Heron field, 2 drills = 2 strikes, H1 expected to produce at or around 800 bbl/d, H2 work suspended until season 2025 due to requiring remedial work to improve the 30 bbl/d well test figure, though commercial MATAD are confident this 30 bbl/d can be improved upon.

Thor, yes i am enthusistic about my investment, only minor issue i see here is how we fund the next 4 or 5 wells next year, DQE agreement, soft loan, Mongolian loan or other method, assuming an average of 2500 bbl/d from 5 or 6 wells that equates to $63,875,000 per year, less hobnobs etc etc, more than enough to be self sustaining in the future and more than enough to give me my 35 pence for every share by the time the refinery comes onstream.

Doc, fact is i would be more than happy with H1 if it produces 500 or 600 bbl/d, however the last RNS states it may surpass that, if it does then i will be even happier, if i am being sanctimonious i do apologize but it probably has a lot to do with the level of knowledge (or lack off) displayed by the likes of Adw or Gusto who suggested yesterday we were producing water.

I could go into detail and add more but dealing with idiots has never been one of my strong points.

Adw, Gusto and the rest of the wrecking crew petrified news will break that H1 is flowing at anything near 800 bbl/d, news like that will seriously damage their plans, fact is it could be several weeks off before we hear, H1 is a new well, been producing less than a month, they will let it run at around the 250 bbl/d mark to deplete the gas pressures being encountered before opening the choke up a bit more.

Minimum 4 new wells next year for MATAD, flow rates as yet unknown but if we drill another well or two around H1 the results should be good.

Brave Mr Manx investing in Rockhopper when Argentina could decide to take the Falklands back.

Adw, if your struggling with the whole sentence try breaking it down into syllables, might make it easier for you to understand if English is not your first language.

Credible, informative & factual.

Last RNS told us H1 flowing at 200 to 300 bbl/d, flow being choked back due to gas pressure spikes, same RNS tells us it likely H1 will flow at or around 800 bbl/d once these gas pressure spikes are controlled or desist/vented, given H1 is in its infancy (less than month producing) it quite normal to have elevated gas pressure, these pressure spikes will diminish with time and production will be increased.

Looks like fresh blood today, BroBarker joined the wrecking crew, amazing amount of time and effort going into holding this down, ask yourself why, what do they know, BOOM time ahead.

Affraid Gusto is a prime example of someone that has no idea what he is speaking about, whether he is just plain stupid or he has an agenda you can decide for yourself.

He says No comms, we had RNS 8 working days ago.

He says no one buying, obviously wrong, take a look at the trades.

He says no sales agreement, well there is, its 99% complete, needs signed off.

He says H1 producing water, well yes, every well does bring water, oil and gas topside but the 14th November RNS tells us we are producing 200 to 300 bbl/d of OIL, and pottentially far higher amount soon.

He says H2 not commercial at 30 bbl/d, 30 bbl/d is commercial but they feel they can get more with remedial work, makes sense not to complete the well until the remedial work is carried out.

He says Gobi is a duster, again not true.

Gusto and the rest turned up just before we bacame a producer, their remit, debase, destabilise, create doubt by any means posible, this is why they are here day in day out posting negative comments, mostly lies and half truths.

Roxy, if those are your honest thoughts i would doubt you make much from dealing in shares, if in doubt stick with your bluechip shares, maybe better for those like yourself that have limited experience.